Sports Medicine Market – Healthcare Industry Analysis

Growth in the sports medicine market is primarily driven by factors such the increasing incidences of sports injuries, continuous influx of new products & treatment modalities, developments in the field of regenerative medicine, rising demand for minimally invasive surgeries.

This collaborative has also estimated that orthopedic procedures will be the most frequently canceled procedures, with 6.3 million orthopedic surgeries canceled worldwide over 12 weeks. The growth of the sports medicine market is halted due to the Covid-19 outbreak but is expected to be restored once the situation stabilizes.

Globally, the incidence of sports injuries has increased over the last few years, primarily due to the growing participation in sports as well as active participation in fitness activities (as a result of the growing focus on leading healthy lifestyles).

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The incidence of ligament tears and fractures is high among people participating in sports. Also, the lower extremity constitutes a major portion of sports injuries, globally. With the increasing participation in sports (among children as well as adults) and subsequent growth in the incidence of sports injuries, the demand for injury management and rehabilitation is expected to increase across the globe.

The cost of these implants is a major concern for market growth in countries such as India, where only a small section of the population is under insurance coverage (according to the IRDA, in 2017, 76% of the Indian population was uninsured). With an overall average cost of more than USD 12,000 in developing countries, affording such a costly treatment is still a big challenge for most of the population.

The major players operating in the sports medicine market include Arthrex, Inc (US), Smith & Nephew plc (UK), and Stryker Corporation (US). Other players involved in this market include Breg Inc. (US), DJO Global, Inc. (US), Mueller Sports, Inc. (US), Wright Medical Group N.V. (US), Medtronic (Ireland), RTI Surgical (US), Performance Health International Limited (US), KARL STORZ (Germany).